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BANKING TOWN TAX REVENUES -- La Conners town hall started life as a bank. The money is still rolling in, but not so much in the first quarter of 2024.
La Conner Town Council members and residents attending the April 9 meeting heard the down news: March's sales tax revenues are 15% below 2023. Year to date, sales tax revenue is down 15%, $124,353, from $146,681.
All tourist-driven tax revenues are lower and considerably below projections, as reported to the town council in March by the state's Department of Revenue. The $33,930 collected in sales tax was 15.6% below 2023. The $3,382 for the fire department tax was 13.8% below last year and the $6,869 in lodging tax collections was down 15%. But 2023 and 2022 were record setting tax collection years for sales tax revenues. The 2024 sales funds are the third highest March totals.
The lodging tax revenue is below the pandemic years, 2020 and 2022-2023 but still the fourth highest collected for the month.
These figures are January expenditures. The year opened wet and cold, probably dampening tourists interest in venturing to La Conner.
The real estate excise tax to date is $14,343, 18.5% below last year's 3-month $17,000 in a difficult real estate environment. Similarly, year to date property taxes collected are $9,657, on par with past years' first-quarter totals.
March revenues from the water and wastewater funds contribute over one-third of year-to-date totals to the four budget line items. The $115,474 gained from the compost fund provided additional revenue.
First quarter revenue totals lag slightly behind 2024 budget projections.
Totals are based on January collections from town businesses and online purchases delivered to La Conner addresses and reported to town council by the state's Department of Revenue.
La Conner has a calendar fiscal year.
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